Client stories
Evidence from the field
Comments from finance leaders who sat through our planning meetings, inventory counts, and draft opinion cycles — including one reservation about timing.
“They caught a revenue cutoff issue in our Taipei warehouse shipments that our previous reviewer had waved through for two years. The adjusting entry stung, but the bank covenant conversation became honest.”
“The draft opinion arrived later than we hoped — our own fixed-asset register was incomplete — but the working paper trail made our parent company auditor stop asking the same question twice.”
“For the interim review, they refused to expand into full inventory observation when the lender only needed limited assurance. That boundary saved us two weeks of warehouse overtime.”
“The control assessment on our disbursement cycle listed three approval gaps with names attached. We fixed two before year-end; the third is still on the board agenda, which is exactly how a letter should work.”
Engagement story: first-year audit after a carve-out
A foreign parent carved a Taiwan manufacturing line into a new legal entity mid-year. Opening balances were incomplete, intercompany agreements were still in draft, and the bank wanted audited figures within four months.
We spent the first week reconstructing opening equity from the carve-out schedule, then redesigned the sample plan around the short stub period. Inventory observation happened on a Saturday to avoid production downtime. The management letter focused on intercompany approval gaps rather than cosmetic formatting issues.
The opinion issued one week after the original target — delayed by a missing legal confirmation — with a clear subsequent-events note the parent auditor accepted without a second round of queries.
Engagement story: interim comfort for a covenant waiver
A trading company needed a mid-year review to support a covenant waiver discussion. Scope stayed limited: inquiry, analytics, and selective journal testing. We documented why inventory observation was out of scope so the bank’s credit officer did not later claim surprise.
The review report highlighted working-capital seasonality already visible in the client’s own flash reports. The waiver conversation used that language instead of debating whether an audit had been “skipped.”